Presentation on theme: "1 8 th National HIPAA Summit Rick Morrison, CEO Emerging Medical Banking Models That Reduce Healthcare."— Presentation transcript:
1 8 th National HIPAA Summit Rick Morrison, CEO AdminiSource/Remettrarick.email@example.com Emerging Medical Banking Models That Reduce Healthcare Administrative Costs March 8, 2004
2 Complex Issues Health care industry has little experience with banking beyond cutting a check and reconciling statements. Banking industry, as a whole, has little experience with health care and is generally unaware of HIPAA.
3 Healthcare Industry Challenges Timeliness of provider payments HIPAA -Cost to track provider preferences -Cost of operating two payment systems 1. Print & Mail 2. ERA (& EFT) Realize return on investment from HIPAA
4 Health Plan Issues HIPAA Dual payment systems avoidance Provider preferences tracking Risk of fraud -The chance of having a problem with a check is 20 times greater than direct deposit -Payments have never been lost with direct deposit -Direct deposit payments are traceable
5 Health Plan Issues Expedite provider transition from a paper- based practice to an electronic environment Maintaining communication with providers in an electronic environment
6 Provider Issues Paid faster Automatic posting of receivables Access to multiple payers
8 Health Plans Bank ProvidersBank HealthcareProvider (hospital, clinic, etc.) One Solution Dollars and data re-associated Printed Check, Remittance Advice, or Both ERA Detail EFT Payment Instructions Health Plan (Alliance Partner) Remittance Data Proactive Notification of Payment Reconciliation File
9 Secure Messaging Value-added product Encrypted e-mail -Secure method for health plans and providers to communicate -Includes broadcast messaging
10 ConclusionConclusion Win-Win business model -Health plans -Health care providers -Strategic alliance partners
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